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SMM, February 28: In February, according to the SMM survey, domestic iron phosphate production decreased by 3% MoM, up 262% YoY. The shorter production period in February, with some companies opting for a one-week maintenance during the Chinese New Year holiday, led to a slight decline in production compared to January. The post-holiday market environment posed new challenges for the iron phosphate industry.
Some downstream LFP companies experienced order cancellations, and market demand showed signs of weakness. As battery cell manufacturers and cathode material producers continued to digest inventory, iron phosphate manufacturers adjusted their production schedules accordingly to adapt to market changes. In terms of pricing, iron phosphate prices in February remained largely at January levels, with no significant fluctuations.
Although the price of industrial-grade MAP rose by month-end, the flat market demand made it difficult to achieve price increases during negotiations. In March, the LFP market demand is expected to gradually recover, and iron phosphate production schedules are expected to increase accordingly. While some companies plan maintenance periods in March, they remain a minority, and the overall impact on production will be limited.
Iron phosphate production is expected to increase by 16% MoM and 90% YoY in March. SMM New Energy Research Team Cong Wang 021-51666838 Rui Ma 021-51595780 Disheng Feng 021-51666714 Yujun Liu 021-20707895 Yanlin Lü 021-20707875.
